The chemical industry has performed well this year in terms of first-quarter earnings and stock performance, with the American Chemistry Council predicting 3.6% growth in US chemical production this year. ACC also expects capital spending to increase annually by 7% through 2021.
Akzo Nobel said second-quarter core profit declined 6%. Separately, the company will create a board-level committee to engage more with shareholders, while Chairman Antony Burgmans will leave after his term expires in April.
US oil and natural gas companies and the US Chamber of Commerce have stepped up cautioning against President Donald Trump's plan to require new pipeline projects to use US-produced steel and components. The oil industry argues that the "Buy American" requirement would lead to construction delays, higher costs and fewer new projects, which would prevent the US from achieving energy dominance and significant economic and job growth.
House lawmakers are expected this week to review a $789 billion spending package that includes water and energy spending for fiscal 2018. The bill would preserve most Energy Department funding but eliminate the Advanced Research Projects Agency-Energy program.
The American Chemistry Council's Plastics Make It Possible campaign uses personal storytelling to connect with consumers and share the benefits of plastics, says Allyson Wilson, director of digital strategy and content marketing. Consumers respond to messaging that shows the tangible benefits of plastics, such as their usefulness for holiday food storage.
The Environmental Protection Agency should include an industry analysis in its review of formaldehyde under the Integrated Risk Information System, said the American Chemistry Council. The analysis concludes there was "no association between individual formaldehyde exposure estimates and frequency of aneuploidy among those exposed," contradicting a 2010 draft assessment.
Chemical companies including Dow Chemical and ExxonMobil Chemical expect US petrochemical investment and construction to continue, whether as an ongoing proposition or as a "second wave." This decade has seen $85 billion in such projects begun or completed, according to data from the American Chemistry Council.
The White House Office of Management and Budget on Thursday published the Trump administration's first regulatory and deregulatory agenda, which provides details about the planned repeals of several environmental regulations. The agenda mentions plans to roll back or revise the Clean Power Plan, the Clean Water Rule, methane limits for oil and natural gas drilling and rules on hydraulic fracturing, among others, as well as details on how and when the administration will repeal or amend these regulations.
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